Discuss, Briefly, the Difference Between a Decision Variable and a State

question 4

Essay

Discuss, briefly, the difference between a decision variable and a state variable.

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Definitions:

Secondary Package

The additional outer packing of a product that provides extra protection or information, and may play a role in marketing strategies.

Primary Package

The packaging the consumer uses, such as the toothpaste tube, from which he or she typically seeks convenience in terms of storage, use, and consumption.

Private-label

Products that are manufactured by one company for sale under another company's brand, typically a retailer's brand.

Repositioned

The strategic process of changing the market position of a product, brand, or company, often involving adjustments in marketing, messaging, or target audience.